UBS Group Increases ARC Resources (TSE:ARX) Price Target to C$33.00

ARC Resources (TSE:ARX) had its price objective raised by UBS Group from C$31.00 to C$33.00 in a note issued to investors on Monday,BayStreet.CA reports. UBS Group’s target price points to a potential upside of 34.04% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Scotiabank lifted their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. CIBC upped their target price on ARC Resources from C$33.00 to C$34.00 in a report on Friday, November 8th. National Bankshares lifted their price target on ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Finally, TD Securities lifted their target price on ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$31.04.

ARC Resources Stock Up 0.9 %

Shares of TSE ARX traded up C$0.22 during trading on Monday, hitting C$24.62. 574,961 shares of the company traded hands, compared to its average volume of 2,012,724. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The business’s fifty day moving average is C$24.42 and its 200 day moving average is C$24.43. The firm has a market capitalization of C$14.68 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a fifty-two week low of C$19.02 and a fifty-two week high of C$27.40.

Insiders Place Their Bets

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. Corporate insiders own 0.40% of the company’s stock.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.